Thu.Dec 31, 2020

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Do you use “Composite form” or “runBusinessRule” in your Oracle cloud application ?

Perficient

Oracle’s support for composite forms will be stopped from May 2021 according to oracle’s update for future. There are dashboard features that you can take advantage of to convert your composite forms sooner than later. And also if you are executing rulesets using Automate command “runBusinessRule” – you may want to explore “runRuleset” command as applicable before May 2021.

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Branch Banking Going Digital-First For Safety And Relevance

PYMNTS

Here’s another icy factoid from the year of COVID: up to 20,000 bank branches are expected to close before the pandemic is declared done. It’s triggered a remaking of the entire sector. Delving into fallout from an extraordinary global health crisis, PYMNTS December 2020 Digital-First Banking Tracker® done in collaboration with NCR Corporation , notes, “Bank customers are taking to mobile and on-line banking in record numbers to maintain their financial lifestyles, with 53 percent of bank custom

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Making a December Difference One Dollar at a Time

Perficient

The season of giving is in full swing, and Perficient employees around the world are participating in unique and impactful ways. A group of colleagues in our Chicago office came together throughout December to donate to and support the Greater Chicago Food Depository in the spirit of Perficient’s Make a December Difference Campaign. The impact they made through this simple act is significant, and their passion for giving to others in this time of hardship is inspiring.

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What Payments Players Had To Say About Innovating Payments In A Pandemic

PYMNTS

In a year filled with unexpected challenges and a COVID-era economic climate that proved fatal for many companies, PYMNTS was lucky to hear directly from the front lines how scores of company leaders and industry experts were coping with the crisis and turning conflict into opportunity. Take a look (and have a listen) at our 10 favorite podcasts from 2020.

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Digital Transformation: Accelerating ROI and Growth in Commercial Lending

Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper

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Legacy business payment processing needs to be in the past

Payments Source

Finance teams can cut down their workload significantly and free up time to analyze data and make more strategic decisions towards improving customer experience and business growth, says RecVue's Amit Chaudhry.

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Rebeca Romero Rainey: Building hope for 2021

Independent Banker

“After a very challenging 2020, I encourage you and your loved ones to end the year strong and fill up with hope for what 2021 may bring.” As the song says, “It’s the most wonderful time of the year,” and this year, our communities, customers and employees are likely looking forward to the holiday season more than ever. After a very challenging 2020, I encourage you and your loved ones to end the year strong and fill up with hope for what 2021 may bring.

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Deep Dive: Why ML Plays A Key Role In Debit Issuers' Fraud-Fighting Strategies

PYMNTS

Debit card issuers face an ever-growing array of fraud schemes perpetrated against them and their account holders. Effective card offerings require financial institutions (FIs) to quickly and accurately detect myriad forms of fraud, forcing them into a delicate balancing act. Being too permissive without adequately scrutinizing transactions enables more fraudsters to make off with funds.

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My top ten books in 2020

Lars Markull

Initially I was planning to write a longer 2020 personal recap, but after an exhausting year (for all of us), I am keeping it short. The year had many ups and downs for me personally, and specifically the first lockdown in Germany was particularly tough for me. Luckily the summer gave some time to reflect and recharge, and thus, I am able to cope a lot better with the second/current lockdown.

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Movie Attendance Expected To Drop 25 Pct Post-COVID, Report Says

PYMNTS

The head of a Southwestern-U.S. theater chain that has closed all its locations and reduced its employee headcount to five from 1,250 due to COVID-19 told CNBC's "Squawk on the Street" Wednesday (Dec. 30) that he expects the long-term effect of the virus will be a drop in attendance by as much as a quarter. "The total attendance, based on the traditional curve, might be down 15 percent to 25 percent on a permanent basis.

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The State of Automation in Financial Services 2024 Report

In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202

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TBT: New Year’s resolutions for cynics

Matt Wilcox Pro

I realize resolutions are supposed to be positive.[1] But a look at their lighter side may offer respite to those of us who are weary of feigning belief and encouragement each time we hear yet another “I’m going to lose weight” or “I’m going to give up [insert vice here].” Here are a few of […].

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Synchrony Bank Lands CFPB OK For Dual Secured, Unsecured Credit Cards

PYMNTS

Synchrony Bank will be able to offer a combination secured/unsecured credit card under a Consumer Financial Protection Bureau order posted Wednesday (Dec. 30). Synchrony Bank is a wholly-owned by Synchrony Financial Inc. Describing Synchrony's application, government regulators wrote of the proposed product: "As with other secured credit cards, therefore, a consumer must provide a security deposit to open a [dual feature credit card] DFCC card account.

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Movers and shakers: Notable December hires in fintech and banking

BankInovation

Financial institutions rounded out 2020 with new faces filling C-suite positions. WSFS Bank and Google Cloud named new technology and security chiefs while API provider Galileo appointed a chief revenue officer, and automated investing platform Wealthfront filled out its banking advisory group with regulatory heavyweights. Here are the most notable December hires: WSFS taps new […].

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How We Will Eat: 2021 Promises To Bring A Digital Appetite

PYMNTS

A PYMNTS staffer recently placing a digital order from New England regional grocery chain Big Y noticed a surprising change to the supermarket’s online options. Customers could order groceries for delivery by Instacart as usual, but the chain now offered prepared food delivered via DoorDash. The lineup was about what one would expect from a grocery store’s prepared-foods section: pizza, subs, chicken tenders and wings.

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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.

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10 ways coronavirus upended credit union industry in 2020

American Banker

From dealing with a flood of deposits to working with examiners virtually, credit unions were forced to quickly adapt to a new normal after the pandemic hit. Here's a look at some of the biggest changes and challenges they faced.

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New Digital Experiences Keep Credit Unions Relevant – And Then Some

PYMNTS

Like their cousins in banking, credit unions (CUs) long enjoyed a relaxed pace of technological change. It was all on their timetable. Consumers waited on financial institutions (FIs) to innovate in an odd relationship that put business needs before customers’ needs. Not anymore. Customers are calling the tune now – and FIs had better dance to it. PYMNTS’ December Credit Union Tracker® , done in collaboration with PSCU , looks back at a year of breakthroughs in the CU space, noting that “digital

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2020 Current Year in Review

Current

Well 2020 was certainly not the year anyone was expecting but for all the tribulations - not to mention being in the epicenter of a pandemic - above all, we’re extremely proud that we were able to deliver on our promises to get our members faster and better access to their money, especially at a time many needed it most. So what happened this year at Current?

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Deep Dive: How Small FIs Use Third Parties, Gradual Integrations To Guide New Payment Rail Adoptions

PYMNTS

The demand for faster payments is growing as companies look for swift, data-rich ways to transact. One study from 2019 found that 54 percent of 120 financial executives listed real-time payments as one of the most impactful emerging technologies, for example. Businesses are accustomed to turning to their banks for access to payments services, so financial institutions (FIs) that wish to remain competitive need to be able to meet this need.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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OCC approves LendingClub acquisition of Radius

American Banker

The regulator's order moves the San Francisco-based company one step closer to becoming the first online lender to own a bank.

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Examining BNPL Solutions’ Role In The 2020 Holiday Shopping Season

PYMNTS

Foot traffic typically skyrockets in stores during the holiday shopping season, with consumers drifting in and out of brick-and-mortar shops as they hunt for gifts. The pandemic has changed the rules, however, and merchants have rapidly adjusted to a retail climate in which customers retain significant health concerns. The global health crisis prompted many consumers to alter their holiday habits this year, including where they shopped, what they bought and how they paid.

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Digital Banking 2020: Digital transformation - The cultural imperative

Payments Source

During 2020, our society has been faced with an economic crisis, health crisis, social justice crisis and environmental crisis. The pandemic has rapidly changed how banks engage with customers and employees; accelerating the shift from in-person interactions to digital engagements. Successfully leading a digital transformation requires much more than smart technology choices, culture is key.

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New wave of fintechs make communities of color top priority

American Banker

Challenger banks aimed at Blacks, Hispanics, immigrants and other underserved groups are offering financial education and support for charities in addition to basic banking services.

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Top 10 Benefits of Automating Loan Modifications for Commercial Lenders

Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.

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Brexit: what are consumers' rights on holidays, banking and more?

TheGuardian

What you need to know about how things will change for UK and EU citizens after 31 December Will my Ehic card still work? Continue reading.

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A Year in Financial Models, Fintech Valuations, Super Apps, Big Tech, Decentralized Finance, the…

Lex Sokolin

A Year in Financial Models, Fintech Valuations, Super Apps, Big Tech, Decentralized Finance, the Multiverse, Pandemic, Revolution, Crypto Art, and the Nature of the Universe Hi Fintech futurists — You should be out partying! Or rather, you should be inside, partying. I guess reading the Blueprint is your version of inside-partying. And writing it is *our” version of inside-partying.

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Movers and shakers: Notable December hires in fintech and banking

BankInovation

Financial institutions rounded out 2020 with new faces filling C-suite positions. WSFS Bank and Google Cloud named new technology and security chiefs while API provider Galileo appointed a chief revenue officer, and automated investing platform Wealthfront filled out its banking advisory group with regulatory heavyweights. Here are the most notable December hires: WSFS taps new […].

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A Year in Financial Models, Fintech Valuations, Super Apps, Big Tech, Decentralized Finance, the…

Lex Sokolin

A Year in Financial Models, Fintech Valuations, Super Apps, Big Tech, Decentralized Finance, the Multiverse, Pandemic, Revolution, Crypto Art, and the Nature of the Universe Hi Fintech futurists — You should be out partying! Or rather, you should be inside, partying. I guess reading the Blueprint is your version of inside-partying. And writing it is *our” version of inside-partying.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.